GM Looks to Get Back Into Financing

One of GM’s most profitable businesses was its financing arm, GMAC. Its success was why it was one of the assets the company sold to help stave off bankruptcy in 2006. As everyone knows, that wasn’t enough. Now that GM is out of bankruptcy and seeing recent sales success, it's interested in reacquiring GMAC, now called Ally, or starting a new financing company.

Many automakers have their own financing arms and this is nothing out of the ordinary. In fact, the move to re-establish a financing company may be a clear sign that GM is truly returning to stability.

GM eyes return to car loan business (Detroit Free Press)

Comments

A more honest headline would read, "Government Looks To Get Into Auto Financing Business". I have two accounts with Ally and if GM buys them (back) I will close them. I owned two GM cars and dealt with GMAC in the past. The experience was so bad that I would never do it again.

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